2 ASX shares UBS says could increase 13% to 37%

UBS has issued new research reports this week and has identified two companies with market-moving news they think are worth a look.

Let's see who they like.

Nufarm Ltd (ASX: NUF)

Nufarm shares are up by more than a third over the past 12 months but UBS believes the stock still has a way to run.

The company this week put out new earnings guidance, saying it expected underlying EBITDA to increase by about 25% for the full year.

The company's seed technologies division was expected to deliver strong growth, led by growth in hybrid seeds and improved omega-3 pricing.

The company's crop protection division however was expected to have flat earnings.

On the negative side of the ledger Nufarm said it expected to book $90-$110 million in write downs.

UBS said the expected result was a 2%-3% downgrade to previous expectations.

The broker has a price target of $3.50 on Nufarm shares compared to $3.12 currently.

Telix Pharmaceuticals Ltd (ASX: TLX)

UBS has a very bullish price target on Telix after attending an R&D day which the broker said, "showcased the meaningful clinical development for TLX's diagnostics and therapeutics pipeline across prostate, brain, and kidney cancers''.

The broker said key highlights included progress on prostate cancer therapeutics as well as the company's Pixclara brain cancer imaging agent.

UBS said:

We believe the event further highlighted TLX's growing breadth and depth across precision medicine and therapeutics towards being a leading radiopharma business. We see multiple opportunities for meaningful value creation on the horizon, supported by TLX's deep expertise and clinical development experience with key catalysts over the next 12 months being resubmission/approval for Zircaix, topline data from BiPASS, topline data for TLX597, and data updates from ProstAct Global trial. Furthermore, we believe the recent deal with ITM improves isotope supply chain for ongoing therapeutic portfolio development, creates cost synergy, and adds additional therapeutic pipelines.

Telix just this week announced the $3.3 billion merger deal with ITM, which, Telix said, is the world's leading supplier of therapeutic radioisotopes and the only producer of globally-scaled, commercial-grade lutetium-77.

Telix said regarding the deal:

The merger will further strengthen Telix's leadership as a vertically integrated radiopharmaceutical company with the capabilities required to develop, manufacture and deliver innovative treatments to patients globally. The combined organisation will be uniquely positioned as a radiopharmaceutical industry leader, differentiated by a world-class scaled isotope manufacturing business with a validated global distribution network, a market-leading commercial precision medicine platform and the industry's most extensive therapeutic radiopharmaceutical pipeline.

Telix said ITM grew at a compound annual rate of 40% from 2021 to 2025 and generated US$273 million in revenue in 2025.

UBS has a price target of $22 on Telix shares compared to the current price of $16.01.

The post 2 ASX shares UBS says could increase 13% to 37% appeared first on The Motley Fool Australia.

Motley Fool contributor Cameron England has positions in Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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